§ 43. Major Legge-Bourkeasked the President of the Board of Trade on what basis was the last profits cut on non-utility clothing based; and what types of accounts were used for assessing these cuts.
§ Mr. MarquandI assume that the hon. and gallant Member is referring to retailers' margins. These were reduced on 1st August by providing that the Purchase Tax should no longer be included in the amount on which the percentage margin is calculated. The reductions were made after considering the latest detailed information about expenses then available collected from retailers of all types. Account was taken of the changes which had taken place since the margins were fixed in 1942, particularly the very considerable increase in the volume and value of goods sold.
§ Major Legge-BourkeIs not the hon. Gentleman aware that it is the impression among a great many of the small men that these cuts were worked out on the accounts of great multiple stores whose running expenses are obviously less per capita than the small tailors'? Would he look into this matter again, and can he give a definite assurance that all types of businesses were considered?
§ Mr. MarquandYes, Sir, all types of businesses were considered in consultation with the Central Price Regulation Committee, as provided by Statute.